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On the importance of sectoral shocks for price-setting
Beck, Günter W.; Hubrich, Kirstin; Marcellino, Massimiliano - 2009
component explains much less of the variation in sectoral regional inflation rates and exhibits much less volatility than … and Sectoral Inflation ; Common Factor Models …
Persistent link: https://www.econbiz.de/10003947456
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The external finance premium in the euro area : a useful indicator for monetary policy?
Gelain, Paolo - 2010
ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in … ; Euro Area External Finance Premium ; Financial Accelerator ; Bayesian Estimation ; Inflation …
Persistent link: https://www.econbiz.de/10003972629
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The External Finance Premium in the Euro Area : A Useful Indicator for Monetary Policy?
Gelain, Paolo - 2010
ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in …
Persistent link: https://www.econbiz.de/10013145340
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Euro Area Inflation Persistence
Batini, Nicoletta - 2021
This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area … regime thereafter. Results based on alternative definitions of inflation persistence support these findings, although, they … suggest that a drop in German inflation persistence and a shift in the mean of inflation - particularly in Italy and France …
Persistent link: https://www.econbiz.de/10013320116
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How Low Can Central Banks Go? The Banking Threshold to Negative Interest Rates
Berriel, Tiago - 2019
Abstract Negative interest rates policies (NIRP), usually depicted in economic textbooks as an impossibility due to the prospect of infinite demand for money, are now a reality in several countries due to different reasons. But while the ZLB has been surpassed when it comes to Central Banks, it...
Persistent link: https://www.econbiz.de/10012899581
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An Estimated DSGE Model for The German Economy
Pytlarczyk, Ernest - Society for Computational Economics - SCE - 2005
This paper presents an estimated DSGE model for the European Monetary Union. Our approach, contrary to the previous studies, accounts for heterogeneity within the euro area. In the estimation we utilize disaggregated information, employing single country data, along with the aggregated EMU by...
Persistent link: https://www.econbiz.de/10005132670
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Estimating an Open Economy SDGE Model for the Euro Area
Beyer, Andreas; Mestre, Ricardo - Society for Computational Economics - SCE - 2005
In this paper we estimate a Bayesian SDGE model using the computer program "Dynare" by Michel Juillard. We present an estimated open economy version of a model for the Euro area. This is an extension of the SDGE model by Smets and Wouters (2003). Based on input/output tables we present a number...
Persistent link: https://www.econbiz.de/10005706278
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An estimated two country DSGE model of Austria and the Euro Area
Breuss, Fritz; Rabitsch, Katrin - 2008
We present a two-country New Open Economy Macro model of the Austrian economy within the European Union's Economic & Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business cycle facts, and that allows for an investigation of...
Persistent link: https://www.econbiz.de/10011347045
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An estimated dynamic stochastic general equilibrium model of the euro area
Smets, Frank; Wouters, Rafael - 2002
This paper develops and estimates a dynamic stochastic general equilibrium (DSGE) model with sticky prices and wages for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital accumulation and variable capacity utilisation. It is...
Persistent link: https://www.econbiz.de/10011623232
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US monetary policy and international bond markets
Gilchrist, Simon; Yue, Vivian Z.; Zakrajšek, Egon - 2018
This paper uses high-frequency data to analyze the effects of US monetary policy--during the conventional and unconventional policy regimes--on foreign government bonds markets in advanced and emerging market economies. The results indicate that an expansionary US monetary policy steepens the...
Persistent link: https://www.econbiz.de/10011927015